Last Year Real GDP in the Imaginary Nation of Populia

question 49

Multiple Choice

Last year real GDP in the imaginary nation of Populia was 907.5 billion and the population was 3.3 million.The year before real GDP was 750 billion and the population was 3 million.What was the growth rate of real GDP per person during the year?

• A)10 percent
• B)14 percent
• C)17 percent
• D)21 percent

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Definitions:

Key Item

An essential or significant product, account, or piece of information that holds particular importance within a specific context.

Common-Sized Income Statement

An income statement in which each line item is expressed as a percentage of sales revenue, facilitating comparison across periods and with other companies.

Net Income

Net income is the total earnings of a company after subtracting all expenses and taxes from total revenue, indicating the company's profitability over a specific period.

Current Ratio

The current ratio is a liquidity ratio that measures a company's ability to cover its short-term liabilities with its short-term assets.